NEWS & LEGAL ARTICLES
Discussing Estate Planning with Loved Ones
I always advise my clients to let their family members know that they have done estate planning and where the documents are located. At a minimum … family members must know that planning has been done.
Planning for Incapacity
In doing estate planning, it is essential to plan not only for death — but for life.
Estate Planning for Blended Families
Doing proper estate planning for a “yours, mine and ours” family presents many special challenges. This article sets forth problems and provides solutions for what spouses can do when addressing concerns related to blended families.
Is a Living Trust Right for You?
The use of a revocable trust (sometimes referred to as a “living trust” or “family trust”) to plan one’s estate has become very popular. Despite the popularity of the revocable trust, revocable trusts are not without their potential problems.
Trust Disputes vs. Probate
A will or living trust may also create a separate trust when one spouse dies, in order to shield up a significant portion of the estate from later estate taxes. Such trusts are designed to save money by avoiding probate fees and delays, and by deferring or reducing estate taxes.
Preventing Problems in Estate Planning
In order to discourage disappointed heirs from disputing your estate plan, you can include a “no-contest” provision that automatically cancels an heir’s inheritance if he or she challenges the distribution of your assets in any way.
State to State Estate Planning
Although a will or trust validly executed in one state should be valid in a different state, it is a good idea to have the estate planning documents reviewed.
Second Marriages Later in Life
The best way to ensure that one’s assets are available for a surviving spouse but ultimately distributed to one’s children from a prior marriage is through the use of a trust.
Inheritance in Trust
Getting an inheritance in trust may be the best way to get (or give) an inheritance.
Estate Planning: Owing More Than You Own
Don’t panic. Your creditors truly can’t touch you. You may, however, worry about how the bills that trickle in, and sometimes flood in, after your death will affect your loved ones.
